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Bank holiday

A bank holiday is a public holiday in which banks and many businesses close; the term is used in the UK, Ireland and several Commonwealth countries and has distinct legal and cultural forms.

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Overview

A bank holiday is a type of public holiday during which banks and many other businesses and public services close or run reduced hours. The phrase is commonly used in the United Kingdom, Ireland and in a number of Commonwealth countries, though equivalent concepts exist worldwide under different names. Bank holidays may be national or local, and they often coincide with religious festivals, national commemorations or seasonal observances.

Origins and development

The modern legal concept of bank holidays in the UK dates to legislation enacted in the 19th century: a set of official days was designated to give workers and banks predictable time off. Since then, governments have added, removed or moved specific days to reflect social change, new commemorations and practical concerns such as when a holiday falls on a weekend.

Characteristics and common rules

  • Banks and many offices close or offer limited services.
  • Some businesses, such as retail and hospitality, may remain open, often with different staffing or pay arrangements.
  • When a bank holiday falls on a weekend, many jurisdictions provide a substitute weekday.
  • Legal and employment consequences vary: some holidays are statutory (entitlement to paid leave), others are observed by convention.

Uses, customs and examples

Bank holidays create opportunities for travel, family gatherings and public ceremonies. They frequently align with well-known observances such as Christmas, New Year, and Easter-related days, as well as secular dates like early-May holidays or national foundation days. Public events, parades and closures of public institutions are common on those dates.

Not every country uses the term "bank holiday." For example, the United States refers to "federal holidays," while other nations list "public" or "statutory" holidays. In some places the term retains a narrower meaning tied specifically to banking operations; in others it has become synonymous with any government-declared day off. Local law determines compensation, mandatory closures and whether private employers must observe the day.

Notable facts

Bank holidays can have measurable economic effects: they alter consumer patterns, affect financial markets and influence transport demand. Governments periodically review the calendar to add commemorative days or to adjust arrangements when holidays clash with weekends, ensuring predictable substitute dates for workers and institutions.

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AlegsaOnline.com Bank holiday

URL: https://en.alegsaonline.com/art/8755

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